Retirement plan

PENSION SAVINGS PLAN FOR EMPLOYEES OF TELESCOPE CASUAL FURNITURE, INC.

Name: TELESCOPE CASUAL FURNITURE, INC. - PENSION SAVINGS PLAN FOR EMPLOYEES OF TELESCOPE CASUAL FURNITURE, INC. (2016) Form 5500
Creator: TELESCOPE CASUAL FURNITURE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PENSION SAVINGS PLAN FOR EMPLOYEES OF TELESCOPE CASUAL FURNITURE, INC., TELESCOPE CASUAL FURNITURE, INC.

TELESCOPE CASUAL FURNITURE, INC.EIN 14-1110750Plan #003PY 2016

85 CHURCH STREET, P.O. BOX 299 - GRANVILLE, NY 128320299518-642-1100telescopecasual.comLinkedIn201-500 employeesfurniture

Other plans on this EIN

2 filings

#002Retirement-$7.0M assets #004Retirement-$1.1M assets

Prospect flagsHigh feesLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$11.6M

-2.4% from 2015

Total participants

-4.1% from 2015

Average account balance

$189,526

+10.4% from 2015

Annual return

5.55%

+6.22 pp from 2015

Benchmarks

See 15,087 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort15,087 peers

Snapshot2016

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$11.87M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$163K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

77.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$231K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+12.98%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$21532

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 2 by compensation

Provider	Service type	Compensation
CMJ, LLP1 year Service code 16 · EIN 14-1710385	Consulting	$13,300
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Service code 25 · EIN 04-2647786	Directed Trustee	$10,756

Plan features & details

Pension benefit codes2F2G2J2R2T3D

Plan features

2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$24K

$286 / participant

Investment mgmt$2K6.2%
Other / not subdivided$23K93.8%

% of EOY assets

0.210%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CMJ, LLP
Auditor EIN: 141710385
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$189,526

$60,349+214.1%

$74,184+155.5%

$62,881+201.4%

Participation rate

62.4%

72.7%-10.4pp

76.6%-14.3pp

69.3%-7.0pp

Annual return

5.55%

21.38%-15.8pp

17.74%-12.2pp

20.14%-14.6pp

Employer contribution / active EE

$1,680-100.0%

$2,370-100.0%

$2,281-100.0%

Participant deferral / active EE

$2,186

$2,856-23.5%

$3,550-38.4%

$3,203-31.7%

Admin fee / account holder

$399

$4,261-90.6%

$5,586-92.9%

$4,296-90.7%

Provider

Service type

Compensation

CMJ, LLP1 year

Service code 16 · EIN 14-1710385

Consulting

$13,300

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Service code 25 · EIN 04-2647786

Directed Trustee

$10,756

PENSION SAVINGS PLAN FOR EMPLOYEES OF TELESCOPE CASUAL FURNITURE, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PENSION SAVINGS PLAN FOR EMPLOYEES OF TELESCOPE CASUAL FURNITURE, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion